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Primary Residential Mortgage / PrimeresModesto.com Complaints Summary

1 Resolved
4 Unresolved
Our verdict: When using services from Primary Residential Mortgage / PrimeresModesto.com with a poor resolution rate, be vigilant. Understand the common pitfalls other customers have faced. Prepare thoroughly for any interactions with their customer service, and consider alternative solutions if your issues are not addressed satisfactorily.
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Newest Primary Residential Mortgage / PrimeresModesto.com reviews & complaints

ComplaintsBoard
C
1:31 pm EST

Primary Residential Mortgage / PrimeresModesto.com Mortgage company

Loan originated out of Little Rock, AR office

I have multiple problems with Primary Residential from the get go. The same issues trying to close, we started our process in May of 16 and did not get o close until August of 16. They did keep stringing us along. I have been paying Mortgage insurance from the get and still do not understand why. I purchased my house for 124, 500.00. I paid over 14, 000.00 down in cash and the house appraised for 135, 500. Which I disputed. They would not help me dispute it. He just told me I could pay another 500.00 to get a second opinion. They also lost paper work, promised I could get a reconstruction loan to get work done immediately and them backed out say that it was not possible.

They have been late on every insurance payment to my hazard insurance and I have reminded them with emails. They require me to have Flood insurance but they did not pay my flood insurance and this was after I called, emailed and spoke with the insurance company. They assured me it would be taken care of. It was not. I did not find out my flood insurance was completely cancelled until the new lender I am working with told me. The policy was due in September and they paid it in January 12th. The policy was not renewable due to out of grace period. I have not been inured against flooding since end of September 2021. I started calling PRMI on 12/27/21, emailing and leaving messages. No, called me back or reached out to me. I had 12 emails bounce back undeliverable. I am fed up with the incompetency of this company.

I still have not received an Annual Escrow statement that I have asked for repeatedly. Escrow in Arkansas has to be re-assessed in October and still nothing.

They have no problem calling me if payment is not made by the 5th. There is no late charge accrued until after the 16th of the month and they will send a letter on the 5th, the 10th and continue to call for that.

I believe there needs to be more investigation in the this company and possibly a nice class action suit! I am lucky that I have not had a catastrophic loss in a flood because of them.

Desired outcome: Compensation for the stress caused by them.

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Benjamin Lentz
, US
Feb 01, 2022 5:46 pm EST

I agree. This company is worthless and has lied to me for months, not returned calls etc. in short they illegally took money out of my bank on a house I had already sold and paid loan off. It has now been over 2 months and many many calls and dtill not been given my money back.

ComplaintsBoard
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1:55 pm EST

Primary Residential Mortgage / PrimeresModesto.com mortgage scam

From ex-employee: David Raese primary residential mortgage is a very bad lender. He steals from every single person that he works with. I worked with this man for a very short time and could not stand what he was doing. After he would hangup the phone. He would start saying what a "what stupid n*ger or slut" or any racist and discriminatory name you can tune of. And of the customers got screwed for thousands more then they should have paid

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Primary Residential Mortgage, Inc.
, US
Feb 25, 2019 11:58 am EST

Please be advised that this review has been identified as fraudulent and is part of a malicious attack campaign against the reputation and character of our Branch Manager, David Raese. PRMI is exploring all available legal options to identify the perpetrator(s) of this negative campaign, and to take appropriate legal action. For further information, we invite you to contact our Corporate Headquarters at [protected] and speak with a representative from our legal department.

ComplaintsBoard
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11:12 pm EST
Verified customer This complaint was posted by a verified customer. Learn more

Primary Residential Mortgage / PrimeresModesto.com Mortgage modesto ca

David Raese said he had our buyers qualified for a USDA loan then days before our scheduled closing, David Raese cam back and said they did not qualify and said they made too much money to qualify. David gave them an "opportunity to save their dream home" by taking a loan that was thousands of dollars more then they were originally quoted. The client and his wife were crying in my office and had to borrow money from almost everyone they knew to save the house they wanted to buy. We have never dealt with a company as dysfunctional as David Raese. The clients stuff was packed, moving truck booked, and people scheduled to help, then boom they get David Raese pulls this [censored] last minute. Save yourself the night mare and do not work with David Raese.

David information we have is as followed:

David Raese

Primary Residential Mortgage, Inc.

NMLS #: 226621
209-499-4263 Cell
209-571-4430 Ext. 13 Office
866-875-7351 E-FAX
draese@primeres.com
https://primeresmodesto.com
https://8180772894.mortgage-application.net/EmployeeList.aspx/bgdTb/

3509 Coffee Road, Suite D-1, Modesto, CA 95355

Primary Residential Mortgage, Inc.
3509 Coffee Road Ste D-1, Modesto, CA 95355

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Sarah Pa.
, US
Feb 22, 2019 6:17 pm EST

BY EX-Employee: David Raese is a very bad lender. He steals from every single person that he works with. I worked with this man for a very short time and could not stand what he was doing. After he would hangup the phone. He would start saying what a "WHAT STUPID N*GER or SLUT" or any racist and discriminatory name you can tune of. And of the customers got screwed for thousands more then they should have paid

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Primary Residential Mortgage, Inc.
, US
Feb 20, 2019 1:50 pm EST

Please be advised that this review has been identified as fraudulent and is part of a malicious attack campaign against the reputation and character of our Branch Manager, David Raese. PRMI is exploring all available legal options to identify the perpetrator(s) of this negative campaign, and to take appropriate legal action. For further information, we invite you to contact our Corporate Headquarters at [protected] and speak with a representative from our legal department.

Is Primary Residential Mortgage / PrimeresModesto.com legit?

Our verdict: Complaints Board's thorough examination reveals Primary Residential Mortgage / PrimeresModesto.com as a legitimate entity with notable strengths. Despite a 20% resolution rate on customer complaints, which invites a closer look, Primary Residential Mortgage / PrimeresModesto.com stands out for its commitment to quality and security. Clients considering Primary Residential Mortgage / PrimeresModesto.com should delve into its customer service record to gauge compatibility with their expectations.

Primary Residential Mortgage / PrimeresModesto.com earns 94% level of Trustworthiness

Perfect Trust Endorsement: Primary Residential Mortgage / PrimeresModesto.com achives 94% ligitmacy per Complaints Board. Highly recommended, yet always stay vigilant.

We found clear and detailed contact information for Primary Residential Mortgage / PrimeresModesto.com. The company provides a physical address, 2 phone numbers, and email, as well as 4 social media accounts. This demonstrates a commitment to customer service and transparency, which is a positive sign for building trust with customers.

Primary Residential Mortgage / PrimeresModesto.com has claimed the domain name for primeresmodesto.com for a long time, which suggests that the website is established and has a history of being in operation. This is a positive sign, as it indicates that the website has been around for a while and may have a reputation to maintain.

Primeresmodesto.com has a valid SSL certificate, which indicates that the website is secure and trustworthy. Look for the padlock icon in the browser and the "https" prefix in the URL to confirm that the website is using SSL.

Our scan shows Primary Residential Mortgage / PrimeresModesto.com website is free from malware and phishing activities, which are types of online threats that can include viruses, worms, Trojan horses, ransomware, and other malicious code, as social engineering tactics used to trick users into sharing their personal information.

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  • Primary Residential Mortgage / PrimeresModesto.com protects their ownership data, a common and legal practice. However, from our perspective, this lack of transparency can impede trust and accountability, which are essential for establishing a credible and respected business entity.
  • The website belonging to Primary Residential Mortgage / PrimeresModesto.com has a low number of visitors, which could be a red flag for users. However, it's important to conduct additional research to fully evaluate the website's legitimacy and trustworthiness.
ComplaintsBoard
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5:28 pm EST
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Primary Residential Mortgage / PrimeresModesto.com Complete FAILURE

This company nearly destroyed our family. They strung us along for nearly TWO MONTHS saying that we had pre-approval, loan approval, and then WHAM! The DAY that escrow was suppose to close, they called us and said that our loan was denied because our foreclosure was not 3 years old (it was 2 months short). They not only lost paperwork and mislead us, but they cost us $12000 in deposits to the sellers that we can't get back. We have currently found another mortgage company, as well as an extension from our sellers to make this deal happen. You have all been warned; DO NOT use this company. They will destroy you.

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JoeKay
, US
Nov 15, 2013 8:18 pm EST

Did you say foreclosure? I wouldn't even start to consider you for a loan for I'd say, 7 years, minimum. You apparently bought something you couldn't afford. A foreclosure is a biggie. You destroyed yourself. Why should they give you a loan? Why are you blaming them? Foreclosure? You DID say foreclosure, didn't you?

ComplaintsBoard
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10:48 pm EST

Primary Residential Mortgage / PrimeresModesto.com Strung along

The mortgage broker we worked with created delays in our closing date of over a month and a half.

She would continually lose paperwork, even a check we sent her for the appraisal of the property. She would also forget to ask us for paperwork that she needed until it was already overdue, creating more delays in our closing date.

Additionally, she would tell us that paperwork had been completed and we would find out that she hadnt completed it until days later, creating more delays. She would continually not let us know what we needed to complete the loan or let us know what was happening.

We did not feel like she was honest with us about the status of our loan or how she was handling the paperwork and deadlines. If we had not had a patient seller, we would have already lost the house, which we still dont have! I would not recommend anyone to work with this company.

Read full review of Primary Residential Mortgage / PrimeresModesto.com and 9 comments
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Summee
San Antonio, US
Jun 16, 2015 8:21 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

Worst experience ever. I don't know where to start.

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Summee
San Antonio, US
Jun 16, 2015 8:20 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

Worst experience ever! I really don't know where to start.. but never again working with bank and will make sure to let anyone I know or don't know in the process of buying.

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J3anni3
Wichita Falls, US
Dec 04, 2014 9:30 am EST
Verified customer This comment was posted by a verified customer. Learn more

OMG! am going thru all of the same things. I am on my 3rd extension. The seller has already moved out and my apartment has been rented. They also expired on my interest rate and are trying to make me come up with more money on the appraisal and closing cost. Strung along, along, and along. Always "at the end of the day" after 5 and first thing in the morning. excuses and lies.

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KCave
Clinton, US
Nov 12, 2014 1:52 pm EST

Dealing with this company in Maryland. We are a week away from our locked in interest rate and we are now on our third closing date that we don't know when it is because they need a week to print out paperwork. The sellers are ready to walk because they came back into town to do closing on Nov. 12, 2014 and the loan officer didn't tell anyone until 5pm on Monday Nov. 10, 2014 after they had arrived. He knew on Friday there would be no settlement but he didn't tell anyone. Now he is being nasty to our realtor and the sellers and won't tell anyone when settlement will be. We hired movers for Nov. 15, 2014 because everything was ago and now not and he is like oh well not my problem and get over it. It takes like 6 to 7 days to print the paperwork out and we can't work any faster. Never ever use Primary Residental Mortgage.

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rebebuc
Newton, US
Dec 30, 2010 7:03 pm EST
Verified customer This comment was posted by a verified customer. Learn more

The mortgage broker we worked with created delays in our closing date of over a month and a half.

She would continually lose paperwork, even a check we sent her for the appraisal of the property. She would also forget to ask us for paperwork that she needed until it was already overdue, creating more delays in our closing date.

Additionally, she would tell us that paperwork had been completed and we would find out that she hadn’t completed it until days later, creating more delays. She would continually not let us know what we needed to complete the loan or let us know what was happening.

We did not feel like she was honest with us about the status of our loan or how she was handling the paperwork and deadlines. If we had not had a patient seller, we would have already lost the house, which we still don’t have! I would not recommend anyone to work with this company.

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Rh1100
Charlotte, US
Apr 27, 2013 8:24 pm EDT

they also are idiots in hiring people when they look at resume's and tell you that you would not be a good fit for the amount of companies you have worked for. even when those companies went out of business and it wasn't anything to do with you.FYI IDIOTS, WHEN A COMPANY CLOSES DOWN, YOU LOOK FOR ANOTHER JOB...nothing like this should reflect you wanting to work ...real idiots

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rs121
Boston, US
Aug 24, 2012 2:00 pm EDT

I am also a Sr. Loan Officer/ branch Manager and can attest to what was previously stated above about the responsibilty of the Loan Officer vs. the company as a whole. Just as their are some exceptional doctors and also some that are not as wonderful the same theory applies to mortgage broker's. Some are fantastic and others simply are not nearly as good. The most important thing to remeber is that getting the lowest rate or paying the least amount in fee's is not always the smartes thing to do thesedays. You want to look for an exceptional mortgage broker and stick with that person just as you would a doctor because nothing makes a smoother and more pleasant experience then working with someone you have faith in and that is knowledgable enough to guide you through the process.

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L Gray
, US
Apr 30, 2012 8:17 am EDT

You can get the same esxperience you just cited with a number of agents across the country and with the
smallest banks/brokers to the biggest banks. Did you piok an agent based on recommendations from a number
of referrals you checked out? The realtor, who wants to fund the loan very badly, can usually recommend
a good mortgage planner/loan officer backed by a strong bank/lender. Primary Residential Mortgage Inc.
is a middle lender funding over 4 billion $$ in loans last year and many branches function very well.
Not to negate your experience as it was surely a painful one...you can never blame the mortgage bank
for the loan officer at an individual branch, and their chose course of action in getting your loan funded.
I am a CA mortgage consultant who uses the tools the bank provides me, to fund loans as quickly as I can.
Things happen but honesty and integrity is of utmost importance and I am very sorry to hear you
that was not your personal experience of your chosen loan officer and the branch.

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imjustsayn
hogansville, US
Feb 24, 2012 1:45 pm EST
Verified customer This comment was posted by a verified customer. Learn more

Look for another mortgage company .My experience with the office in Fayetteville was a waste of time and money. After qualifying with excellent credit and Two months after we paid $400.00 for an appraisal and just 3 days before closing the loan, we were told we would have to pay an additional $400.00 for another appraisal and up to$500.00 to extend the rate that we had locked in . The mortgage lender assured us in no uncertain terms that we would close on time and that all was approved by underwriter, just to call 3 days before closing requesting another appraisal and more money We feel this group has been dishonest and their lack of honesty and integrity is note worthy when choosing a mortgage lender.

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